« previous next »

Author Question: The demand for labor of a perfectly competitive producer: a. is perfectly elastic at the going wage ... (Read 68 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jun 30, 2018
The demand for labor of a perfectly competitive producer:
 a. is perfectly elastic at the going wage rate.
 b. is downward sloping because prices fall when the producer increases output.
 c. is downward sloping because of diminishing marginal productivity.
 d. is downward sloping because prices fall when the producer increases output and because of diminishing marginal productivity.

Question 2

A firm chooses vertical integration to reduce all of the following costs, EXCEPT:
 a. the cost of investing in diversified assets.
  b. the cost of finding a trading partner.
  c. the cost of devising and enforcing an agreement.
  d. the cost of evaluating the other party's performance.


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

The average adult has about 21 square feet of skin.

The Elastic Rebound Theory The Elastic Rebound Theory
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Indentured Labor from Asia Indentured Labor from Asia
Marginal Supply - Demand Curve Marginal Supply - Demand Curve
Economic recession in 2008 saw a small decrease in demand Economic recession in 2008 saw a small decrease in demand
The Stages of Labor and Birth in a Vaginal Delivery The Stages of Labor and Birth in a Vaginal Delivery
Video: How eudicots (true dicots) differ from monocots Animation

For a complete list of videos, visit our video library